12 abandoned cart recovery strategies for marketers

The average ecommerce company loses 70.19% of checkouts to shopping cart abandonment, according to a Baymard Institute analysis. Abandoned cart recovery strategies aim to reduce this rate and convert abandoned carts into successful purchases. Common reasons for cart abandonment include high extra costs, account creation requirements, credit card security concerns, slow delivery times, long checkout processes, no up-front total calculation, unsatisfactory return policies, website errors, limited payment options, and declined credit cards. To calculate cart abandonment rate, use the formula: CAR = [1 – (CC/TC)] * 100, where CC is completed carts and TC is total carts. Strategies for reducing cart abandonment include showing clear calls to action, displaying shipping options on product pages, giving customers a guest checkout option, being transparent about total costs, including a thumbnail of cart contents, using analytics to monitor cart abandonment, including progress indicators on the checkout page, utilizing exit intent pop-ups, saving cart contents, offering several payment options, creating a comprehensive return policy, and sending cart recovery emails and texts. Twilio's text marketing solutions support cart abandonment recovery by enabling businesses to reengage shoppers with SMS texts.